480-442-0779

7320 E Belleview Street, Scottsdale, AZ 85257 (MLS# 6640573)

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7320 E Belleview Street, Scottsdale, AZ 85257

$6,100,000
Property Type: Multiple Dwellings Status: Active
Current Price: $6,100,000 Last Modified: 5/06/2024

Description

Bella Villas is a 21-unit garden style community located one block southeast of Scottsdale Rd & McDowell and is adjacent to SkySong, the ASU Scottsdale Innovation Center. The seller's existing first position debt is available for assumption upon approval from the lender. The property uniquely offers both townhome style (two-story) and patio-home style (one-story) units with each unit possessing its own tax parcel number allowing for individual consumer sales as a possible exit strategy for the future owner. Twenty of the units are two-bedroom floorplans and the remaining unit is a one-bedroom floorplan. The townhome units enjoy private backyards and second story balconies. The patio-home units enjoy private front patios and private backyards.

Supplements: Thirteen of the units have been recently renovated with modern interiors and include shaker cabinets, quartz countertops, stainless steel appliance packages, wood plank vinyl flooring, new fans, faucets, fixtures, remodeled bathrooms and in-suite laundry. Each unit is individually metered for electricity and enjoys its own water heater. Tenants enjoy covered parking, resort style swimming pool and a community laundry facility is also available. Assumable debt is available. Bella Villas is conveniently located near Old Town Scottsdale, Fashion Square Mall, and enjoys easy access to the 101 and 202 Freeways and is just a short drive to Sky Harbor International Airport, the Arizona State University Main Campus (ranked most innovative University in the U.S.), the Marina Heights (the largest office development in Arizona history) and the Novus Innovation Corridor both located in north Tempe adjacent to Arizona State University. The property is 100% leased.

More Information MLS# 6640573

Contract Info

Current Price: $6,100,000 List Price: $6,100,000 Status: Active List Date: 2023-12-14 Ownership: Fee Simple Subagents: N Buyer/Broker: Y Buyer Broker $/%: %

Location, Tax & Legal

House Number: 7320 Compass: E Street Name: Belleview St Suffix: Street City/Town Code: Scottsdale State/Province: AZ Zip Code: 85257 Country: USA County Code: Maricopa Assessor's Map #: 38 Assessor's Parcel #: 155 Add'l Parcels: Yes Assessor Number: 131-38-155 Legal: to be provided at title Tax Municipality: Scottsdale Taxes: 5364 Tax Year: 2022 Marketing Name: Bella Villas Condominiums

General Property Description

Lot Size Dimensions: unknown Year Built: 1960 Uncvrd Parking Spcs: 6 Total # of Units: 21 # of Buildings: 6 Zoning: R-5 Elementary School District: Scottsdale Unified District High School District: Scottsdale Unified District

Remarks & Misc

Geo Lat: 33.461793 Geo Lon: -111.922192

Status Change Info

Status Change Date: 2024-05-06

Legal Info

Lot Number: 21

Income & Expenses

Owner Association: No Operating Exp: 5364 Gross Annual Sch Inc: 473940 Other Income: 14595 Vacancy Allowance: 0.05 Adjusted Gross Inc: 464108.25 Net Operating Income: 365906

Pmt & Rate Info

Cap Rate: 6 Equity: 6100000

Showing Notification Methods

Showing Service: No Showing Service Used

1 Bedroom Units

# 1 Bedroom Units: 1 Avg Rent: 1645 Avg SqFt: 700 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 20 Avg Rent: 1850 Avg SqFt: 741 # Baths: 1

Property Features

Project Type: 13 - 24 Units Construction: Other (See Remarks) Const - Finish: Painted; Stucco Roofing: Other (See Remarks) Floors: Other Sale Includes: Other (See Remarks) Community Amenities: Pool; Other Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer; Other (See Remarks) Cooling: Ceiling Fan(s); Electric Water: City Franchise Sewer: Sewer - Public Electric: SRP; Other (See Remarks) Gas: SW Gas Parking: >1 Space Per Unit Roads/Streets: Asphalt Owner Pays: Water; Gas; Trash Collection Tenant Pays: Electric; Other (See Remarks) Source of Fincl Data: Provided by Owner Showing Notification Methods: Text; Email Lockbox Type: None New Financing: Other (See Remarks) Reports/Disclosures: None; Other (See Remarks) Environmental: None
Listing Office: Munroe Multifamily
Last Updated: May - 06 - 2024
7320 E Belleview Street, Scottsdale, AZ 85257- MLS# 6640573
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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